Performance Evaluation and Practical Use of Supervised Data Mining Algorithms for Credit Card Approval

Business analysis is using large volume of data to help people to make decision. Supervised learning methods are widely used in bank system, especially in credit card approval. The goal is to use various data mining algorithms to predict whether a new customer credit scores or to detect credit fraud. This will serve as the basis for the design of a new campaign because a transition from manual review to automatic review by computer could dramatically improve the work efficiency and reduce the labor costs. More tools such as self organizing map and algorithms could shed light on the self-evaluation for credit card applicants, which could raise efficiency.